Various methods can be used to estimate the human health risk associated with exposure to contaminants at brownfields facilities. The deterministic method has been the standard practice, but the use of probabilistic methods is increasing. Contaminant data for non-carcinogens and carcinogens from 21 brownfields sites in Pennsylvania were collected and compiled. These were used to evaluate the performance of the deterministic and several probabilistic methods for assessing exposure and risk in relation to variability and uncertainty in the data set and input parameters. The probabilistic methods were based (a) entirely on Monte Carlo simulated input parameter distribution functions, (b) on a combination of some of these functions and fixed parameter values, or (c) on a parameter distribution function. These methods were used to generate contaminant intake doses, defined as the 90th, 95th, or 99.9th percentile of their estimated output distribution, for the principal human exposure routes. These values were then compared with the corresponding point values estimated by the deterministic method. For all exposure routes the probabilistic intake dose estimates, taken as the 90th and 95th percentiles of the output distribution, were not markedly different from the deterministic values or from each other. The opposite was generally the case for the estimates at the 99.9th cutoff percentile; especially for the Monte Carlo-based methods. Increasing standard deviation of the input contaminant concentration tended to produce higher intake dose estimates for all estimation methods. In pairwise comparisons with the deterministic estimates, this trend differed significantly only for the probabilistic intake doses estimated as the 99.9th percentile of the output distribution. Taken together, these results did not indicate clear and definitive advantages in using probabilistic methods over the deterministic method for exposure and risk assessment for brownfields redevelopment. They supported using the tired system for environmental risk assessment at any particular brownfields facility. / Master of Science

This paper uses a multi-factor Arbitrage Pricing model to measure the systematic risks of U.S. Foreign Direct Investments (FDI) in the largest emerging markets of Latin America: Argentina, Brazil, Chile, and Mexico. The Arbitrage Pricing Theory (APT) states that returns on investments are exposed to and affected by a number of economy-wide factors or risks. Moreover, risk is defined as the potential losses due to the unanticipated or unexpected changes in the systematic risk factors . Because the unexpected changes in those factors account for the discrepancies between expected and actual returns, we can measure systematic risk by using traditional econometrics and multivariable analysis. Essentially, APT postulates expected returns are a linear function of unexpected changes in various regressors. The magnitude and sign of the coefficients generated provide a way to obtain a dollar denominated time explicit measure of risk. This model is estimated with a variety of estimators and it identifies four risk factors: the annual growth rates of Gross Domestic Product (GDP), money supply (M1), total exports, and total external debt, as determinants of returns. The Ordinary Least Square (OLS) results are somewhat robust--three out of four factors have the expected sign, thus supporting the hypothesis. GLS procedures reveal similar results. / Master of Arts

The Asbestos Hazard Emergency Response Act (AHERA) requires public schools to manage asbestos containing materials. Twenty five years after AHERA was enacted public schools continue to struggle with documenting and managing asbestos containing material assets. In addition, the manufacturing of lead based paint (LBP) was banned over thirty years ago yet public schools continue to have to manage LBP assets with no guidelines specific to public schools. When compared to current civil infrastructure asset management systems, AHERA and the HUD guidelines lack a rating system based on visual inspection data. The development of a condition index algorithm and risk of failure model would provide school planners an efficient management tool to predict the future condition of asbestos containing material and lead based paint assets. As a result, school planners would be able to prioritize maintenance, repair, and abatement projects based on the risk to the indoor air quality of their facilities and more efficiently utilize their limited resources to mitigate such risks. This paper presents initial work toward the development of a visual condition index algorithm and a risk of failure model to support prioritization of maintenance, repair, and abatement projects. The condition assessment categories provided by AHERA and HUD were adapted and incorporated in an evaluation form created to assist in rating the various stages of accessibility, deterioration, and detection of typical ACM and LBP building components. The evaluation form can be utilized by inspection and school personnel when reclassifying ACM and LBP components during semi-annual inspections of their facilities and also ensure the repeatability of the condition assessment and risk of failure methodologies. A risk of failure model was developed utilizing the FMEA process, specifically the calculation of a risk priority number (RPN). Three schools were selected for a field pilot study to develop the accessibility, deterioration, detection, and RPN algorithms and evaluate for repeatability. The algorithms will provide a quantitative and consistent means for documenting the condition and RPN of asbestos containing material and lead based paint assets and allow the condition of these assets to be monitored and reclassified over a period of time. / Ph. D.

This book provides an introductory overview of a wide range of commonly encountered medical imaging tests including radiation- based techniques such as plain film radiography, computed tomography and nuclear medicine, and non-ionising imaging techniques such as medical ultrasound and magnetic resonance imaging... Chapter 7 Balancing risk and benefit in diagnostic imaging.

The naval ship concept design process often embraces novel concepts and technologies that carry with them an inherent risk of failure simply because their application is the first of its kind. Failure is recognized by gaps between actual and required measures of performance, exceeded budgets, and late deliveries. These risks can be defined and quantified as the product of the probability of an occurrence of failure and a measure of the consequence of that failure. Since the objective of engineering is to design and build things to meet requirements, within budget, and on schedule the first time, it is important to consider risk, along with cost and performance, in trade assessments and technology selections made during concept design. To this end, this thesis presents a simplified metric and methodology for measuring the risk of ship design concepts as part of a Multi-Objective Optimization tool for naval ship concept design. The purpose of this tool is to provide a consistent format and methodology for multi-objective decisions based on dissimilar objective attributes, specifically effectiveness, cost and risk. This approach provides a more efficient and robust method to search the design space for optimal concepts than the traditional "ad hoc" naval ship concept design process where selection and assessment are often based on experience, design lanes, rules-of-thumb and Imagineering. This thesis begins with the results of a literature and information search that investigates and describes risk, engineering systems safety, and state of the art risk analysis techniques currently in practice. Based on this background, a simplified metric and methodology is developed to calculate, quantify, and compare relative overall risk in a naval ship design optimization. To demonstrate this method, a naval ship risk register is developed for a notional ship design. This register identifies potential cost, performance, and schedule risk issues. Risk item descriptions are further defined as a function of the design parameters (DPs) considered for the notional ship. Risk Factors (RF) are calculated for each risk item based on the DP selection. Each RF is the product of a Probability of Failure Occurrence (PF) and Potential Consequence of Failure (CF). An Overall Measure of Risk (OMOR) function is developed to measure the level of overall risk for a single concept design based on DP selections. A ship design case study is performed incorporating the OMOR function and risk items into a ship synthesis model capable of calculating cost, performance, and effectiveness. This case study uses a Multi-Objective Genetic Optimization (MOGO) to identify and define a series of non-dominated cost-effectiveness frontiers for a range of risk (OMOR) values. This new method for ship design optimization provides a novel approach and consistent format for multi-objective decision-making based on three dissimilar objective attributes: effectiveness, cost, and risk. / Master of Science

No / It is demonstrated that small marketable gambles that are unattractive to a Standard Risk Averse investor cannot be made attractive even if certain independent background risks that decrease expected marginal utility are added.

For business organizations the concept of risk has always been important. Lately, this importance has been enhanced due to a number of corporate and societal circumstances. New and previously unconsidered risks are gaining increased significance in the overall risk management of many companies. This doctoral thesis takes a wide approach and examines factors relating to the evolving area of operational risk management. It focuses on risks that concern firms’ operations rather than merely financial risk exposures. The thesis consists of four empirical studies that address diverse but interrelated aspects of operational risk in Swedish industry settings. Building on four sets of independent data collections, they apply both quantitative and qualitative methods. The thesis reports results of operational risk management regarding organizational aspects, perceived challenges, the regulative environment, current societal and business trends, and various stakeholders. Issues like trust, risk perception, risk communication, corporate value, reputation, and brand value are also discussed. On the whole, the empirical findings indicate that a new risk paradigm has emerged. As society has boosted the management of various risks as a corporate responsibility, the costs of failing to manage such risks have increased substantially. / Diss. Stockholm : Handelshögskolan, 2009 Sammanfattning jämte 4 uppsatser

Magisteruppsats (4FE18E), Civilekonomprogrammet - Inriktning Controller, Ekonomihögskolan vid Linnéuniveristetet i Växjö, Vårterminen 2021.  Titel: Riskhantering under Covid-19 pandemin - En fallstudie om Enterprise Risk Management på Scania i Oskarshamn Bakgrund: Riskhantering blev ett mycket aktuellt ämne efter finanskrisen 2008 till följd av identifierade svagheter i organisationers riskhanteringssystem. I den förändrade tid som var efter finanskrisen 2008 fick bland annat konceptet Enterprise Risk Management (ERM) mer uppmärksamhet att potentiellt lösa de problem organisationer hade med sina riskhanteringssystem. ERM till skillnad från traditionell riskhantering innefattar en mer systematisk och övergripande riskhantering som integrerar risk i företagsstrukturen och involverar alla individer i företaget. Tidigare forskning har påvisat relationen mellan intern riskstruktur och riskkultur som viktig för att genererar en effektiv riskhantering utifrån ERM. Däremot finns det ett forskningsgap hur dessa komponenter samverkar i praktiken för att funktionen av ERM.  Syfte: Syftet med denna studie är att öka kunskapen om relationen mellan riskstruktur och riskkultur för funktionen av ERM. Detta genom en fallstudie på Scania för att beskriva och analysera arbetet med ERM under Covid-19 pandemin.  Metod: Denna fallstudie är av kvalitativ karaktär med en deduktiv ansats vilket innebär att befintlig litteratur om ERM testas i praktiken. Studiens empiri är insamlad från semistrukturerade intervjuer med krisgruppen på Scania i Oskarshamn. Empiri samlades även in från enkäter besvarade av Scanias medarbetare för att förstå Scanias riskhantering utifrån ERM.  Slutsats: Genom en kartläggning av Scanias riskhanteringsprocess och hur den uppmuntrar till en riskkultur präglad av ett högt säkerhetstänk gick det att identifiera följande områden där relationen mellan riskkultur och riskstruktur spelar en viktig roll för funktionen av ERM; Målsättning & Systematisk riskhantering, Uppmuntran till riskmedvetenhet, Värdet av riskhantering, Riskåtgärder & Förtroende för riskhantering, Information & kommunikation, Öppenhet & Transparens och Tonen uppifrån. Hur relationen mellan intern riskstruktur och riskkultur styrs i dessa områden har således en påverkan för effektiviteten av ERM. / Master thesis (4FE18E), Degree of Master of Science in Business and Economics - Controller, School of Business and Economics at Linnaeus University in Växjö, Spring semester 2021.  Title: Risk Management during the Covid-19 pandemic - A case study about Enterprise Risk Management on Scania Background: Risk management became a topic after the financial crisis in 2008 as a result of identified weaknesses in organizations' risk management systems. The concept of Enterprise Risk management gained more attention after the financial crisis in 2008 as the solution to potentially solve the problems organizations had with their risk management systems. ERM, unlike the traditional risk management, includes a more systematic and comprehensive risk management that integrates risk into the structure of the company and involves all individuals in the company. Previous research has established the relationship between internal risk structure and risk culture as important for generating effective risk management based on ERM. However, there is a research gap on how these components interact in practice for the function of the ERM.  Purpose: The purpose of this study is to increase knowledge about the relationship between risk structure and risk culture for the function of ERM. This through a case study at Scania to describe and analyze the work with Enterprise Risk Management during the Covid-19 pandemic.  Method: This case study is of a qualitative nature with a deductive approach, which means that existing literature concerning ERM is tested in practice. The study's empirical data is collected from semi-structured interviews with the crisis group at Scania in Oskarshamn. Empirical data were also collected from surveys answered by Scania's employees to understand Scania's risk management based on ERM.  Conclusion: Through a survey of Scania's risk management process and how it encourages a risk culture characterized by a high level of security thinking, it was possible to identify the following areas where the relationship between risk culture and risk structure plays an important role in the functioning of the ERM; Objectives & Systematic risk management, Encouragement of risk awareness, The value of risk management, Risk response & Trust for risk management, Information & Communication, Openness & Transparency and the Tone from top. How the relationship between internal risk structure and risk culture is governed in these areas has an impact on the effectiveness of ERM.

<p>The market risk premium is one of the most important parameters in finance. Its value and the ways to calculate a risk premium for the market is a widely debated subject. This thesis examines numerous ways of calculating a risk premium for the Swedish market with regard to how good an estimation they make of a real risk premium. Estimations based on historical periods ranging from 20 to 85 years is calculated as well as a premium based on forward-looking estimates. The real risk premium is solved out for a selection of companies and an index with the help of CAPM. An examination of these estimates leads to the conclusion that historical estimates of a risk premium may be outdated. The implication of this is that more effort should be put into examining a risk premium based on forward-looking estimates. In this context a thorough analysis of fundamentals should be added into the calculation.</p>

The market risk premium is one of the most important parameters in finance. Its value and the ways to calculate a risk premium for the market is a widely debated subject. This thesis examines numerous ways of calculating a risk premium for the Swedish market with regard to how good an estimation they make of a real risk premium. Estimations based on historical periods ranging from 20 to 85 years is calculated as well as a premium based on forward-looking estimates. The real risk premium is solved out for a selection of companies and an index with the help of CAPM. An examination of these estimates leads to the conclusion that historical estimates of a risk premium may be outdated. The implication of this is that more effort should be put into examining a risk premium based on forward-looking estimates. In this context a thorough analysis of fundamentals should be added into the calculation.